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U.S. ethanol exports hit record high in 2016

U.S. ethanol exports hit record high in 2016

WASHINGTON: Net exports of United States ethanol hit a record high of over one billion gallons in 2016, according to a new report from the Renewable Fuels Association. RFA president and CEO Bob Dinneen says exports are up because U.S. ethanol continues to be the lowest-cost and cleanest octane source in the world.

U.S. ethanol exports were valued at more than $2 billion in 2016, up 13 percent from 2015. Dineen says this provides a huge economic benefit to the U.S. Brazil was the leading destination for U.S. ethanol exports, followed by Canada and China. Together the three countries accounted for 68-percent of total ethanol exports. Exports to South America and East Asia had explosive growth in 2016, increasing 118 percent and 69 percent, respectively, over 2015 levels. Just a few years ago, the U.S. was a net importer of Brazilian ethanol, but as U.S. producers have become more efficient and world sugar prices have risen, Brazil is now the top recipient of U.S. product.